In a report published Tuesday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Equal-Weight rating and $31.00 price target on Urban Outfitters URBN.
In the report, Morgan Stanley noted, “URBN's 3Q showed more of the same: Anthro and Free People remain healthy businesses while UO works to re-tool stores to match its eComm strength. Given low visibility on UO's turn around and gross margin recovery, at 16x weremain E/W.”
Urban Outfitters closed on Monday at $30.83.
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